Organization and its Innovation History

Added on -2020-02-05

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MANAGING
INNOVATIONS
1
EXECUTIVE SUMMARY
The travel and tourism sector is becoming one the largest as well as fastest growing
economic sectors across the world. The travel industry in going through various innovation in the
year 2016. This are relating with online travel sector. This has been considered one of the best
way to reach the public in an effective manner. Such has never been the scenario of the industry
which exists at present. Development of integrated technology platform assist in offering value
to the users at every stage of their journey. In the present report Thomas Cook has been taken
into account. The company is a British global travel company listed on London stock exchange
and business was formed in the year 2007 by merger of Thomas cook AG. This group owns large
number of tour operators along with the charter airline based in United Kingdom. Organization
has introduced interactive and innovative tablet application so that sales volume of business can
be enhanced easily. Further, the entire tour operation market has been changed where in past
online systems were not present and at present all the operations are carried out through IT
systems. From maintaining the quality of services being provided through this application, the
content and information available in various sections has been extracted from authentic sources
and are also updated on a regular manner. The innovation is not just up to convenient booking as
well as ticketing but it is moving more in the direction of offering greater travel experience, that
is requires for solving issues in each and every stage of travel experience. The rationale behind
this trend could be the increasing awareness among the people who are preferring to opt for
Thomas Cook, owing to their responsible nature. Hence, this in a way has become a selling point
for the company. With all the technological advancement in various industries, Thomas Cook
has also partnered with Wex, which is a leading service provider of virtual payment solutions.
This association has enabled the entity to provide an integrated payment system which has been
highly applauded by the customers of Thomas Cook. Adoption of all the innovative practices has
aided the business of the company to experience enhancement and attain a competitive
advantage in the market. In consequence to this Thomas Cook has occupied the position of the a
leading brand among the tour operators of the world.
2
TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................4
Purpose of the report and structure .............................................................................................4
THE ORGANIZATION AND INDUSTRY OVERVIEW.............................................................4
Organization and its innovation history ......................................................................................4
Organizations Existing Innovation Performance and Capabilities..............................................5
The industry in 2016 ...................................................................................................................7
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9
3

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